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Source: People's Republic of China – State Council News
BEIJING, Oct. 20 (Xinhua) — The fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) is set to set the tone for the 15th Five-Year Plan, which charts the development direction of the world's second-largest economy from 2026 to 2030, a crucial step toward China basically achieving socialist modernization by 2035.
The aforementioned plenary session, which opened in Beijing on Monday, will consider the CPC Central Committee's draft proposals for developing the country's 15th Five-Year Plan for Economic and Social Development.
As a comprehensive document defining China's development direction, Five-Year Plans outline the country's goals, strategies, priorities, and policy guidelines in various areas. Since 1953, successive Five-Year Plans have enabled China to achieve the miracle of rapid economic development while maintaining long-term social stability, becoming an important governance approach.
Over the past five years, China has made significant progress in achieving high-quality economic development through innovation and growing domestic demand. This success was achieved despite challenges such as the COVID-19 pandemic and an increasingly challenging external environment.
From 2021 to 2024, China maintained an average annual GDP growth rate of 5.5 percent. China's estimated economic growth during the 14th Five-Year Plan period (2021-2025) is expected to exceed 35 trillion yuan (US$4.93 trillion), exceeding the annual GDP of leading Western economies. China's per capita GDP reached US$13,445 last year, placing the country among the top upper-middle-income countries.
Having eliminated absolute poverty and achieved the goal of building a moderately prosperous society in all respects, China aims to essentially achieve socialist modernization by 2035 and fully realize the goal of transforming China into a strong, modern socialist country by the middle of this century. As the 14th Five-Year Plan period draws to a successful close, the 15th Five-Year Plan period will be a crucial stage for consolidating the foundations and making every effort to achieve the 2035 goal and its subsequent objectives.
Over the next five years, China will place greater strategic emphasis on developing new productive forces to drive economic growth. This goal will be supported by comprehensive, high-level planning and strengthened institutional and policy measures. The country aims to accelerate scientific and technological innovation and achieve breakthroughs in key areas. At the same time, efforts will focus on upgrading traditional industries, supporting emerging sectors, and laying the foundation for the industries of the future.
Thanks to massive investment, a strong talent pool, and supportive policy measures, China continues to confidently advance in innovation. In recent years, the country has developed high-performance chips, advanced operating systems, and large-scale artificial intelligence models. Significant advances have also been made in areas such as quantum technologies, human spaceflight, and deep space exploration.
The country's "AI Plus" initiative promotes the development of scientific research and industry, as well as the creation of new consumption scenarios. High-tech industries and the deeper integration of scientific, technological, and industrial innovation will play an increasingly important role in stimulating new growth factors for the Chinese economy in the coming years.
As China accelerates the formation of a new development architecture, domestic demand will continue to expand, becoming the main driver and stabilizer of economic growth. This year, the central government is prioritizing actively stimulating consumption, improving investment efficiency, and expanding domestic demand across all areas.
It is necessary to unlock the consumption potential of sectors such as the ice and snow economy, the silver economy, and the low-altitude economy, as well as rural areas. Over the next five years, the country is expected to develop effective measures to promote coordinated regional development, advance comprehensive rural revitalization and integrated urban-rural development, and accelerate agricultural and rural modernization.
At the same time, as a global leader in green technologies, China will drive green transformation domestically while contributing to global climate action through its cost-effective products and technological strength.
From 2026 to 2030, China will continue to advance reforms across all sectors and strive for high-level opening-up. More than 300 reform measures outlined at the Third Plenary Session of the 20th CPC Central Committee are to be fully implemented during the 15th Five-Year Plan period.
Five-year plans are a distinctive feature of socialism with Chinese characteristics and a key element of successful governance in China. Unlike the policy fluctuations often observed in some Western countries, consistent plans reflect the CPC and the Chinese people's unwavering focus on long-term goals, their commitment to results-oriented practical action, and their determination to continue moving forward until these goals are achieved.
With 2026 marking the first year of the 15th Five-Year Plan, China's modernization, under the CPC's strong leadership, is poised to break new ground in all aspects. Through the united efforts of the entire country and deeper international cooperation, China is expected to steadily move toward achieving its goals.
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